Circle Flows Oil From AASE-24 Well in Egypt

Circle Oil plc announced Tuesday that it has flowed oil from the AASE-24 well on the North West Gemsa field in Egypt.

Part of the company’s 2016 infill drilling campaign on the Egyptian field, AASE-24 recorded output at a gross average rate of 1,714 barrels of oil per day and 3 million cubic feet of gas per day through a 40/64 inch choke. The well will now be produced at a lower rate “in order to best manage the long term field production,” according to a Circle Oil statement.

“We are pleased with the results of this two well drilling campaign which will help us to maintain production rates and manage field production. There is no further drilling planned in 2016 although there is an ongoing workover campaign which we also expect to help maintain production levels,” said Circle Oil’s CEO Mitch Flegg in a company release.



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